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Jamaica’s vacation Timeshare Act officially operational

Published:Monday | May 2, 2016 | 5:28 AM

Jamaica’s Timeshare Act is now officially operational, 18 months after it was passed in the Parliament. 

Tourism Minister, Edmund Bartlett made the announcement during the opening ceremony of the Jamaica Product Exchange (JAPEX) tourism trade show, over the weekend. 

He said the law took effect May 1 and that timeshare vacations would be regulated by the Real Estate Board.

According to the American Resort Development Association timeshares enable people to purchase their future vacation at current prices.

Purchasers of timeshare buy furnished resort accommodations at a fraction of whole ownership costs and pay a yearly maintenance fee.

The resort is divided into and sold as one-week periods called intervals.

The Tourism Minister says the ministry, the Real Estate Board, JAMPRO and other partners are collaborating to roll out a marketing programme to attract developers and purchasers locally and overseas.

Bartlett says the introduction of timeshare vacations is another way to diversify Jamaica’s tourism offerings.

According to him, the concept has the potential to create new economic opportunities for Jamaicans while fuelling investment and enhancing Jamaica’s international appeal.